HSH financing Carrickallen wind farm project in the Republic of Ireland

Alternative Sources of Energy, Banking, Energy, Finance — By on December 7, 2017 at 8:35 AM

Lars Quandel

HAMBURG/KIEL HSH Nordbank is providing Galetech Energy Developments (GED) with long-term finance amounting to about € 43 million for construction of the Carrickallen wind farm project in the Republic of Ireland. The farm is located in County Cavan, surrounded by hilly agricultural land and will be producing a total rated output of 20.33 megawatts (MW) with 10 type Senvion MM82 and MM92 wind turbines. The wind farm is scheduled to go into operation in May 2018.

The wind farm has signed a power purchase agreement (PPA) with SSE Airtricity Limited, an Irish utility company, to feed in power over a period of 15 years.

“I am pleased that our first deal with our new client GED is simultaneously our yet largest project in Ireland,” said Lars Quandel, Head of Energy & Utilities at HSH Nordbank. “We are currently working on realising other, follow-on projects with this client.”


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